Crypto Market Sees Sunday Surge: What's Behind the Bounce?

Crypto prices went up on Sunday, with Bitcoin leading the charge. It hit around $86, 466, a 2. 7% jump from earlier in the day. This rise came after Bitcoin showed signs of being oversold, according to a crypto expert. The Relative Strength Index (RSI), which tracks how fast prices change, dipped below 30, a level that often means sellers have pushed prices down too fast. Bitcoin's last two dips into this oversold zone in 2023 and March 2025 were followed by short-term rebounds. This pattern suggests that the recent rise might continue in the short term. The overall crypto market also saw gains, with a 3. 29% increase in market capitalization over the past 24 hours, reaching $2. 95 trillion. Most of the top 20 cryptocurrencies, excluding stablecoins, also saw increases. Ether, the second-largest cryptocurrency, gained 4. 5% to around $2, 835. Other major coins like Solana, BNB, Dogecoin, Cardano, and TRON also saw daily increases. However, many of these coins are still down significantly over the month, indicating that the recent gains might just be a temporary relief. Zcash and XRP stood out with notable gains. XRP climbed 7. 7% to roughly $2. 04, while Zcash surged 14. 1% to $574. 05. Zcash has been on a roll, up 113. 5% over the past month and over 922% year to date. Privacy-focused tokens like Zcash and Monero have been outperforming most other sectors in recent weeks. The market rebound followed a wave of liquidations in the derivatives market. CoinGlass reported that around 117, 928 traders were liquidated over the past 24 hours, totaling roughly $206. 39 million. The largest single liquidation was a $3. 03 million HYPE-USD position on the Hyperliquid exchange. Thin weekend liquidity likely amplified both the downturn and the rebound, a common feature of Sunday crypto trading.